Boot Barn (NYSE:BOOT) Price Target Raised to $180.00 at Citigroup

Boot Barn (NYSE:BOOT) had its target price boosted by Citigroup from $137.00 to $180.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

BOOT has been the subject of a number of other research reports. Craig Hallum raised Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Wednesday, April 23rd. Stephens initiated coverage on Boot Barn in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price for the company. Robert W. Baird upped their target price on Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday. KeyCorp decreased their target price on Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their target price on Boot Barn from $209.00 to $196.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and an average price target of $170.62.

Boot Barn Trading Up 1.3%

BOOT stock opened at $156.99 on Friday. The stock has a 50-day moving average price of $107.05 and a two-hundred day moving average price of $130.02. Boot Barn has a 12-month low of $86.17 and a 12-month high of $176.64. The company has a market cap of $4.80 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm had revenue of $453.75 million for the quarter, compared to analysts’ expectations of $458.56 million. Equities analysts forecast that Boot Barn will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently bought and sold shares of the company. Stephens Investment Management Group LLC acquired a new stake in Boot Barn during the fourth quarter valued at approximately $46,699,000. Alberta Investment Management Corp acquired a new stake in Boot Barn during the fourth quarter valued at approximately $2,842,000. Charles Schwab Investment Management Inc. raised its stake in Boot Barn by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock valued at $54,439,000 after buying an additional 5,881 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Boot Barn during the fourth quarter valued at approximately $42,440,000. Finally, TimesSquare Capital Management LLC raised its stake in Boot Barn by 134.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock valued at $43,973,000 after buying an additional 166,121 shares in the last quarter.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.